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Parliamentary move to raise the price of the dinar and maintain the stability of inflation

Wednesday 20 March 2019 4368

Parliamentary move to raise the price of the dinar and maintain the stability of inflation

 
Baghdad / Omar Abdul Latif
 
 
The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary and monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation.
"The committee will move during the current legislative term towards changing the fiscal and monetary policy in the country in general, 
Coming ".
He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation
 In the country".
"The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment."
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2 hours ago, 6ly410 said:

 bro 🥂 

 

2 hours ago, navira said:

Cheers bro 

 

What - A Bro’s Pants Off Dance Off ? :o

 

pants off DANCE OFF. .
 
:D  :D  :D 
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Excellent news! Hopefully they will get this bill passed and moving.

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8 hours ago, dinareffic said:

Parliamentary move to raise the price of the dinar and maintain the stability of inflation



Dinareffic I do believe that the second legislative session, the one that they are in now, ends in the middle of June. So there's the latest window folks. How nice would that be, right?.

Thanks for the reminder Dinareffic. It actually helps

 

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48 minutes ago, Jaygo said:

Next always means “Current” correct?? 

That is correct.

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16 minutes ago, navira said:

Almost Thursday bro...cheers

🥂 

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I don't believe only a few pips for this iqd to increase in value...don't know what others are thinking smh

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Bro, I agree. If this law gets voted, expect an increase hopefully by early june...they need this cause of reconstructions to start in july...Cheers bros

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7 hours ago, navira said:

I don't believe only a few pips for this iqd to increase in value...don't know what others are thinking smh

 

IF it is only for a few pips, CBI doesn't need this law to do it. They have done 'a few pips' many times before.😃

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Im with Zul in this one. Shabibi showed that he can make adjustments any time he wanted to, but a law is needed to change the exchange regime ie note swap due to increase in purchasing power requiring smaller denominations of currency and all of the things that go along with it. If they come out at one to one. the existing notes wont be able to be worth face value in country cause it would blow up the M2 to astronomical proportions.  I know what you are thinking, sounds like im talking lop. Think about it though the in country float cannot go from 20=30 billion dollars to 20=30 trillion dollars. The float value must stay the same therefore the people in the country get purchasing power. Us investors will get the windfall when we exchange at face value, our bank notes at a bank for our local currency. great for us bummer for them although coming out at a lower rate initially does leave some room for gains in country if they exchange everyone at the lower rate then go from say 1:1 to 3:1. Anyway just thinking out loud its early and my coffee hasnt kicked in yet. GM DV and have a great day

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1 hour ago, zul said:

 

IF it is only for a few pips, CBI doesn't need this law to do it. They have done 'a few pips' many times before.😃

Zul, have not seen you in a while. Trust all is well. 

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True Mr Unlikely.  That is where the "in country rv  theory" falls apart. This is where The Financial Management Law does come into play. It is the mechanism that will regulates the revaluation of the debt when the currency rv. So the GOI does not over pay their debts. 

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12 minutes ago, ChuckFinley said:

Zul, have not seen you in a while. Trust all is well. 

Hey Chuck, if you put a @ symbol infront of the name it will notify them you mentioned them in your post. 

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56 minutes ago, ChuckFinley said:

Zul, have not seen you in a while. Trust all is well. 

 

All is good my friend....tq.👌 Been popping in and out reading the news.

And I must say things are really heating up right now....i'm super excited. Haha.

 

Hope all is well with u too my friend...cheers!

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2 hours ago, navira said:

Zul, agree with u fully. Thanks for ur input. Cheers n all dvers

 

Cheers Navira...! :D

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1 hour ago, jg1 said:

Hey Chuck, if you put a @ symbol infront of the name it will notify them you mentioned them in your post. 

 

I did not know that either. Thxs jg1 ! I had seen that symbol on different posts and wondered why posters did that ? Now I know !!

 

  Cheers, pp

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